Core Viewpoint - Catheter Precision, Inc. has signed a definitive agreement to acquire assets related to the Cardiac Pulmonary Nerve Stimulation (CPNS) System from Cardionomic, Inc. through its subsidiary Cardionomix, Inc. This acquisition aims to address acute decompensated heart failure (ADHF), a condition affecting over 1 million Americans annually, with promising initial clinical results indicating significant efficacy [1][2][4]. Group 1: Acquisition Details - The acquisition involves 1,000,000 shares of unregistered common stock and a three-year promissory note of $1.5 million at 4% interest, with no principal or interest due until maturity [5]. - The transaction is subject to normal closing conditions, including NYSE American listing approval [6]. Group 2: Clinical Efficacy - Initial clinical studies have shown significant positive results, including less worsening of acute heart failure, increased fluid loss without renal function deterioration, improved quality of life at thirty days, reduced mortality or hospitalization at six-month follow-up, and a 2.8x improvement over standard care in the WIN ratio [5]. Group 3: Market Potential - The U.S. market for the CPNS System is estimated to exceed $1 billion in annual revenues, given the high number of hospital admissions for heart failure [4]. - The therapy targets hospitalized ADHF patients with an ejection fraction of 50% or less, who exhibit fluid overload despite diuretic treatment [2]. Group 4: Strategic Partnerships - The acquisition is supported by previous investors, including the Cleveland Clinic Foundation, Abbott Laboratories, and New Enterprise Associates (NEA), who will receive economic interests in Catheter Precision's common stock and the Cardionomix note [4][9]. - Discussions are ongoing with various investors to secure additional funding for the new subsidiary, which will support the development of the acquired assets [4].
Catheter Precision to Acquire Assets in Development for Late-Stage Treatment for Acute Decompensated Heart Failure